Students Loan Bureau Improves Efficiency Though CRIF Partnership

Front – L-R are Terrence Cooper - CEO CRIF NM, Monica Brown – Executive Director SLB, Rear L-R are Shellian O’gere – Legal Counsel, SLB, Analisa Downes-Allen – Public Relations Officer, SLB, and Robert Gordon, Operations Manager, CRIF NM.

The Students Loan Bureau, which last year signed a Credit Information Provider (CIP) agreement with the CRIF NM credit bureau, has now begun submitting their loans portfolio data and will soon start using CRIF NM credit reports for their upcoming loan processing period.
The SLB has to-date been faced with challenges in loan repayments from its borrowers, and as a result has now partnered with the CRIF NM credit bureau, further demonstrating their commitment to making the entire loans process more efficient and transparent for students, guarantors and all stakeholders.
As the leading credit reporting agency in Jamaica, CRIF NM with its 25 years of global experience, has proven that by using its risk assessment tools, the SLB will realize significant improvements to their overall delinquency rates - resulting in an increased availability of disbursable funds for future students wishing to pursue a tertiary education.

“This new partnership will also aid SLB’s efforts in collecting on obligations from persons who have migrated or perhaps considering living abroad and not servicing their SLB loan. As with the establishment of the CRIF NM credit bureau here in Jamaica, Jamaicans seeking credit or, employment overseas will be required to present a copy of their credit report”. As quoted by CRIF NM CEO, Terrence Cooper
“It gives the Students’ Loan Bureau (SLB) great pleasure to be associated with CRIF NM as an information provider. The partnership forged between both institutions will certainly benefit the SLB as we strive to reduce delinquency and encourage beneficiaries to make prudent financial decisions, including repaying their outstanding student loan balances. The SLB firmly believes that through the implementation of the Credit Scoring/Rating system, the organization will begin to experience further growth in its collections and as such provide opportunities to more students to gain access to tertiary education. The alliance between CRIF NM Credit Assure Limited and the SLB should assist in continuing our mandate to finance higher education as we recover outstanding loan amounts to bolster the Revolving Loan Fund. It is our hope that as a result of this alliance we will also see more persons taking responsibility for their student loan debt and making strides towards the repayment of their loans as Every Dollar Counts”.
Students’ Loan Bureau
May 2014

CRIF NM Credit Assure Limited is a joint venture between CRIF and Massy, founded with the objective of providing a world class credit bureau and related value added services to Jamaica and other countries in the Caribbean.
The company benefits from the experience, know-how, and support of both CRIF and Massy, with CRIF providing the Credit Bureau Operating platform, industry know-how, and value added products, and Massy providing the IT / technology infrastructure, via local industry knowledge and experience (MTIJ) from 80 years of business involvement in the Caribbean.